Gold Prices Surge Sharply in Pakistan After Five-Day Decline

KARACHI: Gold prices in Pakistan recorded a sharp increase on Thursday after declining for five consecutive days in both domestic and international markets.

According to the All Pakistan Sarafa Association, the price of 24-karat gold increased by Rs11,200 per tola, reaching Rs465,236 per tola.

The price of 10 grams of gold also rose by Rs9,602, taking the new price to Rs398,864.

Gold prices also climbed significantly in the international market, with the price of gold increasing by $112 per ounce to reach $4,427 per ounce.

Meanwhile, silver prices also witnessed an increase in the domestic market. The price of silver rose by Rs185 per tola, reaching Rs7,044 per tola.

The sharp rise in gold prices comes a day after the precious metal recorded a major decline in Pakistan, with its price falling by more than Rs11,000 per tola.

The latest increase marks a significant reversal in the domestic bullion market after the five-day downward trend.